2016 Midyear Hiring Forecast Released

Now that we’re in the second half of 2016, it’s a good time to get a pulse on hiring for the remainder of the year. CareerBuilder has done just that! They recently surveyed 2,153 employers and 3,244 workers and shared the results in their Midyear Forecast. Key findings include:

45 percent of small business employers plan to hire full-time, permanent employees in the second half of 2016

30 percent plan to hire part-time employees in the second half of 2016

27 percent plan to hire temporary or contract workers in the second half of 2016

17 percent plan to hire interns in the second half of 2016

Employers also reported that they’re looking to boost wages in order to compete in today’s market. More than half of employers will raise wages for current employees, while 2 in 5 will offer higher starting salaries on job offers in the second half of the year. Looking at a subset of human resources managers, 70 percent feel their companies will have to start paying higher wages.

Matt Ferguson, CEO of CareerBuilder and co-author of The Talent Equation had this to say about the survey results: “Based on our study, the U.S. job market is not likely to experience any major dips or spikes in hiring over the next six months compared to last year. While certain industries or locations may produce more job growth, hiring overall will hold steady throughout the election season and through the end of the year. Where we’ll likely see a more noteworthy change is in the area of wages. The number of hires made each month continues to lag the number of jobs posted for key functions within organizations, and the majority of employers feel they will now have to pay workers more to attract and retain them because the talent supply is not keeping up with demand.”

If you find your salary structure isn’t in line with industry standards, or if you’ve skipped pay increases for the past few years, how exactly do you make your wages fair and equitable? And how do you ensure this situation doesn’t happen again? Find out!

It isn’t always easy to determine when to hire. Hire too soon, and there may not be enough work to go around. Drag your feet, and your staff will struggle. Luckily, there are signs that can point to the need for additional staff.